| 04.09.2012 Spain makes first bank rescue - Bankia to get $5.66bn |
| Bailey McCann, Opalesque New York: According to a report from the Financial Times, Spain has made its first cash bank rescue to keep insolvent local bank, Bankia afloat. The loan comes from the Fund for Orderly Bank Restructuring (FROB), an EU fund which has been put in place to help the growing number of troubled European banks. The Bank of Spain which had to approve the deal had been reticent to |